Hello, this webpage, which, for brevity, we have titled IRS and Home Business Taxes, is only one of our collection of effective & instructional expositions that we have requested or assembled from well known authorities in the field. If you find this 'IRS and Home Business Taxes' article helpful, please let us know.
IRS and Home Business Taxes Article:
DecidingtoWorkfromHome
'Unreported Income:' The best way to get the IRS to send you a love note suggesting you two get together for a chat. That means an AUDIT!Deciding to work from home can be a good decision or a bad one. It depends .....
If you received W-2s and/or 1099s, guess who else got copies?
Yup,the IRS.And they now have a sophisticated computer program that matches every W-2 and 1099 with 1040 Tax Returns.
Guess what happens when they get a 1099 that isn't reported on your 1040?
See ! understanding " IRS and Home Business Taxes" is not so difficult, more still to come, though ....
Thinking Of Starting An Online Business
Thinking of Starting an Online Business' Here's what to do:
1. Establish Your Credibility by Getting .....
Thinking of Starting an Online Business' Here's what to do:
1. Establish Your Credibility by Getting .....
Hey,you're quick!
Although most income you receive is taxable,and must be reported as 'earned income'for tax reporting purposes, there are some types of income that is only partially taxed or not taxed at all. A complete list can be found in IRS Publication 525,'Taxable and Nontaxable Income.' (Here's a direct link to download IRS Publication 525: http://www.irs.gov/publications/p525/index.html}
Some common examples of items NOT included in your income are:
-- Reimbursement for many Adoption expenses
-- Child Support payments received by you
-- Gifts, Bequests and Inheritances
-- Workers' Compensation benefits
-- Reimbursement ......
Hopefully, you are now a little more knowledgable about IRS and Home Business Taxes (why not check out our article on Starting A Small Business, as well).